ASX-listed martech Pureprofile Limited has raised $18.8 million in a rights issue to retire debt and target growth.
The company now has $3.5 million for growth and investment, including expanding its aoftware-as-a-aervice offering, and delivering more targeted media campaigns for clients, through the use of first-party data.
“This recapitalisation caps a turnaround year for the business in 2020," says CEO Martin Filz.
"Thanks to support from our shareholders and investors we have been able to reset and invest in the future.
“We face 2021 in a strong financial position, with cash in the bank for growth. Equally important, operationally the business is now completely focused on fast-growing global markets in the exciting area of data acquisition, analysis, insights and media."
With a footprint in Asia Pacific, US, Europe and India, Pureprofile is a data, insights and digital advertising business that helps brands and agencies identify, connect and engage with consumers.
In the second half of 2020, Pureprofile appointed Martin Filz as CEO, relaunched its Australian media business as Pure.amplify, and brought on new senior management in Singapore to spearhead APAC business development.
Andrew Edwards, chairman, Pureprofile: “Those that have followed Pureprofile’s story closely over the past couple of years would appreciate the size of the opportunity that our expertise in data acquisition, analysis and insights provides shareholders.
"The amount of data being generated through the burgeoning digital economy is an exceptional opportunity for businesses to reach consumers. However the changing privacy and regulatory landscape will completely change the way that data is used, and this is where Pureprofile is perfectly positioned to take advantage of significant global unmet needs.”
Pureprofile posted a loss of $9.75 million for the year to June on revenue $24.24 million, down 35.9%.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.